BoardWare Intelligence Technology Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2022. For the period, the group expects to record a decrease of no more than 90% in the profit before tax for FY2022, as compared to that of approximately HKD 30.0 million for the year ended 31 December 2021. The expected decrease in the Group's profit before tax was mainly due to the combined effect of (i) the decrease in gross profit and gross profit margin resulting from the decrease in the number of newly awarded projects and the delay of backlog projects due to the resurgence of COVID-19 pandemic in the second half of 2022 in Macau; and (ii) the increase in the operating expenses due to the expansion of business and the additional costs for the establishment of research and development team in the PRC ("PRC", for the sole purpose of this announcement, excludes Hong Kong and Macau), as compared to that for financial year 2021.

During financial year 2022, especially the second half of financial year 2022, the Group's operations have been adversely affected by regional outbreaks and strict public health control measures implemented by the government in Macau, resulting in a decline in the operating results of the Group for financial year 2022.